* "The vacancy rate at neighborhood and community shopping centers [is] 9.5 percent... Vacancies at regional malls and super-regional malls ... [are] 7.9 percent[.]" About 8% of enclosed malls are dead by one common industry measure. The vacancy rate on Chicago's Magnificent Mile, a high end retail district, is 7.2%. Historical and international statistics also suggest that there is a serious oversupply of shopping mall real estate.